Slide 1: HY24 Results Presentation
yeh RESULTS ety OR i) 29 February 2024
Slide 2: Disclaimer
Disclaimer The following disclaimer applies to this presentation. Please consider its Forward looking information (continued) Disclaimer contents carefully. By accepting this presentation, you acknowledge that you Actual results may dier materially from those anticipated in these No representation
Slide 3: Our mission: To empower people to realise the full value of their skills
“Airtasker allows me to tailor my Our mission: work around other commitments To empower people as a single parent - something I thought I could never do.” to realise the full value of their skills. “After a motorcycle accident nearly Creating jobs isn’t a by-product of the claimed my life, I’m so gr
Slide 4: We're making progress on our mission
We’re making progress on our mission… 13.9m Job opportunities created1 180k Taskers have earned an $550m+ In the pockets of Taskers income on our platform2 (net of Airtasker’s fee revenue)3 1. On the Airtasker and Oneflare marketplaces since inception. 2. On the Airtasker marketplaces since inception
Slide 5: Airtasker is building the world's most trusted marketplace
Airtasker is building the world’s most trusted marketplace to New brand image that speaks to two people connecting buy and sell local services. We connect people who need work done, with people who want to work. 5
Slide 6: Unique value proposition
Unique value proposition: Open community Infinitely horizontal Built on transparency and Unifying a fragmented local accountability to enable trust with a services industry and creating light touch operating model. entirely new service industries. For customers: For Taskers: ● Super fast responses ●
Slide 7: HY24 Highlights
HY24 Highlights Positive free cash flow1 and solid revenue growth achieved via optimisation of sales funnel and significant operating eiciency improvements: 🏆 Positive free cash flow of $0.1m1, up $4.7m on pcp 🏆 Airtasker marketplaces revenue up 10.3% on pcp 🏆 UK posted tasks up 30.0%2 following…
Slide 8: Financial Results
* ~ Financial Results
Slide 9: HY24 Financial Highlights
HY24 Financial Highlights Revenue Profitability Key Drivers Group revenue $23.3m Free cash flow $0.1m1 Record completed tasks +3.6% % +6.8 pcp Operating cash flow $1.4m, +$4.7m pcp Booked tasks down 4.6% on pcp on pcp up $7.6m on pcp Average task price down 3.1% on pcp Airtasker marketplaces $18.9m Hea
Slide 10: HY24 Financial Highlights
HY24 Financial Highlights Group Revenue Positive Free Cash Flow Positive Operating Cash Flow Positive Group EBITDA $23.3m +$0.1m +$1.4m +$2.0m up 6.8% on pcp up $4.7m on pcp up $7.6m on pcp up $7.1m on pcp
Slide 11: Funnel optimisation delivers higher monetisation rate
Funnel optimisation in Airtasker marketplaces deliver 19.3% increase in monetisation rate Cancellation Rate and Monetisation Rate (monthly average) ● A revised cancellation policy and fee structure was introduced ⬆19.3% HY24 on pcp during the period resulting in improved marketplace reliability with
Slide 12: Solid revenue growth delivered whilst driving profitability
Solid revenue growth delivered whilst driving profitability Group Revenue $23.3m +6.8% on pcp ● Group revenue in HY24 was up 6.8% on pcp to $23.3m. The increase in Group revenue was driven by record levels of Tasker engagement1 resulting in a record number of completed tasks2 combined with core produ
Slide 13: Improved sales funnel and higher monetisation rate
Improved sales funnel and higher monetisation rate to flow through as Australian consumer demand returns to growth Airtasker Australia Booked Tasks (4 week rolling average) ● Whilst completed tasks were at record levels during HY24 (up 3.6% on pcp), soft consumer demand saw booked tasks in HY24 down
Slide 14: Improvements in operating efficiency deliver profitability
Improvements in operating efficiency deliver profitability Expenses as a percentage of Group revenue ● During HY24, Airtasker delivered a $7.1m improvement in Group EBITDA driven by a reduction in headcount costs and improvements in operating eiciency. ● Headcount costs1 as a proportion of revenue w
Slide 15: Positive free cash flow driven by solid revenue growth
Positive free cash flow driven by solid revenue growth and improvements in operating efficiency Free cash flow $0.1m ● Airtasker delivered positive free cash flow of $0.1m in HY24, up $4.7m on +$4.7m on pcp pcp driven by solid revenue growth combined with significant improvements in operating eiciency.
Slide 16: Growth Strategy
Growth Strategy 16
Slide 17: Cash generated in Australian marketplace funds global expansion
Cash generated in Australian marketplace funds global expansion, turbocharged by local media-for-equity partnerships ● Airtasker’s marketplace model is proving to be cash generative at scale but requires upfront marketing Airtasker Limited investment to establish network eects. ● We’ve proven the s
Slide 18: AU: Continue to invest in customer experience
AU: Continue to invest in customer experience to consolidate Australian market leadership Improve marketplace reliability Address platform leakage Empower quality service Cancellation policy ✔ Revised fee structure ✔ Availability model ✔ Cancellation aribution model ✔ Operational enforcement ✔ Urge
Slide 19: AU: Continue to invest in the Airtasker brand and community
AU: Continue to invest in the Airtasker brand and community Annual Tasker Brand integration in Valentine’s Day Awards on Sunrise Amazon Prime series social campaign 64 % Australian brand No. 1 Awareness for local awareness1 services brands1 Amplifying marketplace trends: Taylor Swift tasks included
Slide 20: Commenced roll out of proven media partnership model
Commenced roll out of proven media partnership model to scale in new markets £40B+1 Local Services TAM ● A media-for-equity partnership with Seven West Media enabled Airtasker to build a trusted household brand name and scale network eects in Australia. ● Over a 5 year partnership, Airtasker grew r
Slide 21: Airtasker's UK television campaign launched on Channel 4
Airtasker’s UK television campaign “Airtasker, Yeahtasker!” launched on Channel 4 in October 2023.
Slide 22: TV campaign launch sees posted tasks jump 30.0%
TV campaign launch sees posted tasks jump 30.0%1 UK Weekly Posted Tasks (4 week rolling average) ● Airtasker launched the ‘Airtasker. Yeahtasker!’ television campaign on Channel 4 in October 2023, delivering a TVC launch strong +30.0%1 increase in weekly posted tasks. Oct-23 ● The impact of this tel
Slide 23: Airtasker US Heals the Bay
AIRTASKER US HEALS THE BAY Our “marketplace stimulus” activity sees local jobs being created in the Airtasker marketplace to further promote Airtasker. In December 2023, the Tasker community helped to clean up beaches in Los Angeles as part of the Heal The Bay initiative… whilst promoting Airtasker!
Slide 24: Fine tuning growth levers whilst maintaining cost discipline
Fine tuning growth levers whilst maintaining cost discipline ahead of media partnership US Booked Tasks (4 week rolling average) ● Airtasker saw US weekly booked tasks increase 27% on pcp driven mainly by fine tuning key growth levers. These optimisations saw marketing eiciency1 improve significantly
Slide 25: Looking ahead
Looking ahead: 👊 We delivered positive free cash flow and positive EBITDA in HY24 👊 We reairm guidance to deliver FY24 full year positive cash flow result 👊 We expect sales funnel and operating eiciency improvements to deliver further positive impact as consumer demand returns to growth 👊 We…
Slide 26: Thank you!
Thank you! Airtasker Limited | ABN 53 149 850 457 26
Slide 27: Appendices
Appendices 27
Slide 28: HY24 Financial performance
HY24 Financial $m1 HY24 HY23 Variance $ Variance % performance Revenue 23.3 21.8 1.5 6.8% Other income 0.7 0.0 0.7 3,309.5% Interest revenue 0.3 0.0 0.3 973.1% Loss on derivatives (0.1) (0.1) (0.0) (44.4%) ● Group revenue up 6.8% on pcp to $23.3m, driven Employee benefits (11.0) (16.6) 5.6 33.6% by p
Slide 29: HY24 Cash flow
$m1 HY24 HY23 Variance $ Variance % HY24 Cash flow Receipts from customers (inclusive of sales tax) 24.4 24.9 (0.5) (2.0%) Payments to suppliers and employees (inclusive of sales tax) (23.1) (31.1) 8.1 25.9% Net interest received/(paid) 0.0 (0.0) 0.0 376.9% Net cash used in operating activities 1.4 (
Slide 30: HY24 Financial position
$m1 31 Dec 23 30 Jun 23 Variance $ Variance % Cash and cash equivalents 5.7 16.1 (10.4) (64.7%) HY24 Financial Trade and other receivables 0.8 0.3 0.5 137.2% Financial assets 11.5 1.0 10.5 1,016.2% Other assets 7.0 8.7 (1.8) (20.1%) position Total current assets 24.9 26.1 (1.2) (4.5%) PP&E 0.2 0.3 (